Larsen & Toubro (L&T) is on an expansion spree, planning a 10 per cent workforce increase over the next year, following a similar growth in FY23. L&T’s chief financial officer, R Shankar Raman told Moneycontrol that talent competition will determine the exact headcount, but the targeted range remains around 10 per cent.
This growth aligns with L&T’s focus on West Asia, particularly Saudi Arabia, where it has established fabrication shops and ambitious goals. “We’re keen to involve local talent,” Raman said, highlighting efforts to train Saudi graduate engineers and bolster the regional workforce.
L&T boasts a $16 billion order book in Saudi Arabia, prompting plans to onboard both senior leadership and on-floor talent. While acknowledging short-term supply chain disruptions due to regional tensions, Raman remains optimistic about long-term prospects. “Saudi Arabia’s 2030 vision remains intact,” he emphasised, noting their $16 billion order book will keep L&T busy for the next two and a half years.
This expansionary outlook comes amid strong post-quarter earnings, with L&T poised to exceed both revenue and order inflow targets for the current fiscal year.
